In This Section
The following questions are representative of the types of questions you will find on the CRCM (Certified Regulatory Compliance Manager) exam.
a. A line of credit used for the borrower's business, secured by the borrower's primary dwelling
b. A revolving line of credit secured by the borrower's primary dwelling used to improve the borrower's home
c. An increase of a line of credit from $5,000 to $10,000 secured by the borrower's primary dwelling
d. A loan to pay off a contract for a deed secured by the borrower's primary dwelling
a. Before the first EFT occurs
b. Along with the first periodic statement
c. Within three business days of account opening
d. Within three business days of a customer's request for the EFT service
a. Internal audit
b. Consumers
c. Board of Directors
d. Compliance officer
a. File a Currency Transaction Report (CTR) with the IRS
b. Discharge Teller #1 immediately
c. Send a notice of adverse action to the bank's federal regulator
d. File a Suspicious Activity Report (SAR)
a. All individual mortgage loans
b. Grants or loans to fulfill CRA activity
c. Non-public or confidential information that will be provided in the public file
d. A copy of the agreement to the regulatory agency 24 months after the end of the term
1. a
2. a
3. c
4. d
5. b
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